LATAM Gets Approval For Revised $2.45B DIP Plan

Law360 (September 18, 2020, 4:35 PM EDT) -- A New York bankruptcy judge on Friday approved a revised $2.45 billion debtor-in-possession financing plan for LATAM Airlines Group, minus the equity-swap provision that caused him to reject the passage last week.

U.S. Bankruptcy Judge James Garrity approved the package at a brief remote hearing during which counsel for the South American airline and a number of its creditors told him that with the contentious equity provision removed the financing plan now had the support of all involved parties.

"We hope that this is a signal of a new dynamic to come in this case as we turn to work on...

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